No Crash for Bitcoin, Bears Defeated while Crypto Market making Recovery

No Crash for Bitcoin, Bears Defeated while Crypto Market making Recovery

Bitcoin bears are yet again defeated as the majority of the market is in the green while the crash being detected and patched before even it make it to the release. While Bitcoin has crossed $6,400 level, XRP, EOS, TRX, and ETN are making substantial gains among the altcoins with total market cap jumping $200 billion level.

Bitcoin crash? Jumps $6,400 mark

After a sharp decline to $6,100 mark yesterday, Bitcoin took an equally sharp hike and reached over $6,500 level. At the time of writing, Bitcoin has been trading at $6,430 while being up by about 2 percent. As you can see in the chart below, today’s price range has been between $6,371 to $6,460.

Bitcoin 1-day price, Source: TradingView

The daily trading volume of world’s leading cryptocurrency has also taken a surge at $4.2 billion with a market cap of $111 billion. As for the BTC dominance, it has taken a slide and hit 54.7 percent.

On another front, recently, a flaw has been detected that was successfully patched by Bitcoin core developers who released a new software version. The flaw could have been easily exploited and led to a disaster but the developers reacted quickly and the bug didn’t even make it to the production release.

Altcoins surging, total market cap reaching $203 billion

As it usually happens, altcoins also hiked in tandem with Bitcoin as a majority of the crypto market is in green. Out of the top cryptocurrencies,

XRP is the winner with $17.04% surge at $0.3732

EOS and Tron (TRX) are up by over 6%

Cardano (ADA) by 5% while Litecoin (LTC), Monero (XLM) and NEO are surging in the 4% range

The winner of today’s gainers is Electroneum (ETN) with 52 percent gains at $0.00799 with just about $1 million daily trading volume.

Verge (XVG), Basic Attention Token (BAT), and Nano are also gaining significantly in over 9 percentage.

BitcoinDark (BTCD) is suffering from the highest losses of more than 14 percent. Aurora, Dentacoin, and NEM are also among the red.

These gains in the altcoins have the market cap of the entire crypto market cross $200 billion. For the past few days, there has been lots of ups and downs but yet again it has reached $203.8 billion.

7-days Total Market Cap chart, Source: Coinmarketcap

At the moment, Bitcoin and altcoins are maintaining a good price momentum with a lot of green in the market. But it is yet to seen if these gains will be extended or as experts are saying are we still in the bear market.

Summary

Article Name

No Crash for Bitcoin, Bears Defeated while Crypto Market making Recovery

Description

Bitcoin bears are yet again defeated as the majority of the market is in the green while the crash being detected and patched before even it make it to the release. While Bitcoin has crossed $6,400 level, XRP, EOS, TRX, and ETN are making substantial gains among the altcoins with total market cap jumping $200 billion level.

Author

ANJALI TYAGI

Publisher Name

COINGAPE

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Disclaimer
The presented content may include the personal opinion of
the author and is subject to market condition.
Do your market research before investing in cryptocurrencies.
The author or the publication does not hold any responsibility
for your personal financial loss.